Template:Isda Change in Tax Law summ: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "So one mild observation here is that this definition of a “{{{{{1}}}|Change in Tax Law}}” does not specifically mention, you know, ''tax'' per se. Which at first g..." Tags: Mobile edit Mobile web edit |
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So one mild observation here is that this definition of a “{{{{{1}}}|Change in Tax Law}}” does not specifically mention, you know, ''[[tax]]'' [[per se]]. Which at first glance is odd. | So one mild observation here is that this definition of a “{{{{{1}}}|Change in Tax Law}}” does not specifically mention, you know, ''[[tax]]'' [[per se]]. Which at first glance is odd. | ||
This transpires not to matter, though, seeing as {{ | This transpires not to matter, though, seeing as {{{{{1}}{|Change in Tax Law}} appears only twice in the {{2002ma}}, and in each case the context in which it appears is very specific to tax. They are: | ||
*Section {{ | *Section {{{{{1}}{|2(d)}}(4)(B) (which deals with exclusions to the general requirement to [[gross up]] for {{{{{1}}{|Indemnifiable Tax}}es; and | ||
*Section {{ | *Section {{{{{1}}{|5(b)(iii)}} ({{{{{1}}{|Tax Event}}s), defining things that count as {{{{{1}}{|Tax Event}}s by making an {{{{{1}}{|Affected Party}} more likely to suffer an {{{{{1}}{|Indemnifiable Tax}}. | ||
The provisions surrounding gross up and termination and Indemnifiable Taxes are some of the most (linguistically) complicated in the {{isdama}}, by the way. | The provisions surrounding gross up and termination and Indemnifiable Taxes are some of the most (linguistically) complicated in the {{isdama}}, by the way. | ||
Revision as of 21:14, 15 April 2020
So one mild observation here is that this definition of a “{{{{{1}}}|Change in Tax Law}}” does not specifically mention, you know, tax per se. Which at first glance is odd.
This transpires not to matter, though, seeing as {{{Template:1{|Change in Tax Law}} appears only twice in the 2002 ISDA, and in each case the context in which it appears is very specific to tax. They are:
- Section {{{Template:1{|2(d)}}(4)(B) (which deals with exclusions to the general requirement to gross up for {{{Template:1{|Indemnifiable Tax}}es; and
- Section {{{Template:1{|5(b)(iii)}} ({{{Template:1{|Tax Event}}s), defining things that count as {{{Template:1{|Tax Event}}s by making an {{{Template:1{|Affected Party}} more likely to suffer an {{{Template:1{|Indemnifiable Tax}}.
The provisions surrounding gross up and termination and Indemnifiable Taxes are some of the most (linguistically) complicated in the ISDA Master Agreement, by the way.